Skip Navigation?

First Principles Quarterly - Spring 2019

05.13.2019

Compass on rope coil

We are pleased to share the Spring 2019 edition of the First Principles Quarterly.

First Principles Quarterly (FPQ) captures our portfolio management team's insight across fixed income markets.

In our Spring edition, we cover topics including, but not limited to: the prospects of monetary policy error, especially considering potential changes to the FOMC’s price stability framework; factors behind the first quarter muni rally and the significance of pension discount rates on state credit health; Fed communication vs market conviction on the likelihood and direction of rate policy and the impact from adjustments to other monetary dials; how geography, by virtue of home price appreciation, affects MBS prepayment incentives/speeds; and the effect of recent IPOs in the ride-sharing industry on the rental vehicle ABS market.

We invite your comments and questions.

View the First Principles Quarterly - Spring 2019